eBook - PDF

Restoring America's Fiscal Constitution

Name: Restoring America's Fiscal Constitution
ISBN: 9798216314363

John Merrifield,

Barry W. Poulson,

259 pages
English
PDF
Available on iOS & Android

eBook - PDF

Restoring America's Fiscal Constitution

John Merrifield,

Barry W. Poulson,

About this book

Restoring America's Fiscal Constitution estimates the potential impact of new fiscal rules on the U.S. economy over the next two decades. The new rules would require a cyclically balanced budget and an expenditure limit. The study shows that over the forecast period, the budget could be balanced and the total debt-to-GDP ratio reduced to the 60 percent tolerance level under this scheme, but this fiscal consolidation can only be achieved using a combination of fiscal reforms that go far beyond what has been proposed by Congress and the President.

The first chapter explores the theoretical foundations of a fiscal constitution. The orthodox public finance view of public debt is contrasted with a public choice perspective. This is followed by chapters surveying the new fiscal rules enacted in other countries to address debt issues. Several chapters provide a historical perspective on U.S. debt, including a critical appraisal of our fiscal rules. New laws are proposed to address the debt crisis, and a dynamic simulation model is used to estimate the impact of the proposed laws on the U.S. economy. The final section provides a roadmap for enacting the proposed constitutional and statutory fiscal rules.

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Yes, you can access Restoring America's Fiscal Constitution by John Merrifield,Barry W. Poulson in PDF and/or ePUB format, as well as other popular books in Economics & Public Finance. We have over one million books available in our catalogue for you to explore.